Artificial Intelligence, AI, will thoroughly change the way we do things, but is not the solutions to all problems. Therefore, to prepare a clear strategy for AI-driven technology innovation is probably the most imperative initiative to pursue.
That statement comes from Magnus Penker, an entrepreneur and internationally renowned expert on innovation, digitization, and business transformation. For the past 8 years, he has used his practical and theoretical insights to develop InnoSurvey, a methodology and global innovation database used to analyse and provide advice to companies, business leaders, and scientists around the world.
– And now AI is on top of everybody’s agenda, but very few have enough insights to be able to make the best use of it. So, my strongest advice is to develop a strategy for AI, based on the question “What do we want technology and artificial intelligence to do for our organization?”.
AI is a powerful tool that for some purposes will do great things. Health care is one example where Big Data and AI helps doctors with diagnostics. Also, within the area of law AI is used to make for example Due Diligence much faster, it just takes a couple of hours instead of 3-6 months.
– But what is important to understand is that you can only get good use of AI if it is taught by a very experienced teacher, a supervised learning. The problem with that is that a well-working AI-system will do tasks that today is done by junior lawyers and doctors, if we use the examples above. And since they do not get enough practiced with more simple tasks, they will not get a chance to become more skilled and experienced. So, companies really need to think through how to secure future competencies.
But AI does not only offer great potential, it may also be used for criminal purposes.
– One problem is “Delearning”, where somebody enter false data into the learning processes of the AI-system, making it come to wrong conclusions. In the health area for example it would be a disaster if a patient gets a wrong diagnosis.
Great need for an AI-strategy
In order to use AI in a way that strengthens the company’s business and contributes to growth, and avoid the potential negative effects, it is important to develop an AI-strategy for the company.
– An AI-strategy is unique to each company. They must analyse their own organisation’s prerequisites, needs and readiness, among many other things. AI should start through experimentation (test hypothesis and learning in a small scale), then you can scale it up to a full implementation once you have tried and learned about it, concludes Magnus Penker.
Photo: Saša Radisavljevic